Apple Q2 Earnings Preview
AAPL has dropped well over $70 a share over the last ten days. Is the bleeding about to stop or has the hemorrhaging only just begun?
Many analysts believe this question will be answered tomorrow when Apple reports second quarter earnings. The conference call commences after the close of regular trading on Wall Street, Tuesday, April 24th.
Apple says the call will begin at 5:00 p.m. EST, 2:00 p.m. PST. At that time, a live stream of the call will available at this link
This time, "the street" expects Apple to report earnings of $9.99 per share, and $36.7 billion in total revenue for the quarter. This is, per established habit on Wall Street, higher than Apple's own estimate of $8.50 per share on $32.5 billion in revenue.
On January 24th, during Apple's last earnings call, Apple not only beat the street, it blew the street away. Record earnings sent AAPL well past $500 per share and provided the momentum for shares to reach their high-water mark of $644 earlier this month.
Q2 earnings will reflect some of the massive new iPad sales that helped Apple reach historic fiscal heights. But will it be enough to drive the stock back above $600? We will find out Tuesday.